CHICAGO, April 8 /PRNewswire-FirstCall/ -- Advanced Life Sciences Holdings, Inc. (Nasdaq: ADLS), a biopharmaceutical company developing cethromycin, a novel once-a-day antibiotic, to treat respiratory tract infections and to combat bioterror threats, announced today that it has filed a shelf registration statement on Form S-3 with the US Securities and Exchange Commission ("SEC"). If and when the shelf registration statement is declared effective by the SEC, it will allow the Company to raise capital from time to time through the sale of common stock, preferred stock and/or equity warrants. While the aggregate amount of securities registered on the shelf registration statement is $35 million, the Company's ability to sell securities under the shelf registration statement in any given 12-month period is subject to certain SEC volume limitations relative to its non-affiliated market cap.
"We have filed a shelf registration statement with SEC to allow the Company to access working capital in increments that are sensitive to shareholder dilution over the three-year term of the shelf," stated Michael Flavin, the Company's chairman and chief executive officer. "The flexibility of the registration statement will provide us with an efficient means to access capital as favorable market opportunities present themselves."
Any future offering and its specific terms will be subject to prevailing market conditions. An offering of securities covered by the shelf registration statement will be made only by means of a written prospectus and prospectus supplement. The Company currently intends to use the proceeds from any offerings under the registration statement for a variety of purpose
|SOURCE Advanced Life Sciences Holdings, Inc.|
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